NSF cheque question

[wolfwolf]

Hadn't written one in more than 10 years except last week. I forgot to deposit my pay to cover outstanding cheques. So I was hit with a $35 NSF. Lesson learned...again...after a decade.

Anyone knows whether the person to whom the cheque was written (the payee) will be charged for NSF as well? If the corporation is, then I'd have to fork out additional funds, as a matter of fairness, to reimburse the company.

 

[Gentle Ben]

The payee will get charged a fee from their bank as well.

 

[onehunglow]

Hadn't written one in more than 10 years except last week. I forgot to deposit my pay to cover outstanding cheques. So I was hit with a $35 NSF. Lesson learned...again...after a decade.

Anyone knows whether the person to whom the cheque was written (the payee) will be charged for NSF as well? If the corporation is, then I'd have to fork out additional funds, as a matter of fairness, to reimburse the company.

Good for you for being fair. Many would not be so kind.

 

[my2cents]

You may find the corporation will add their own ad min charges on top of the bank charges they get. So yes they will be compensated.

 

[tboy]

You may find the corporation will add their own ad min charges on top of the bank charges they get. So yes they will be compensated.

yeah, many banks and mortgage companies will tack on a $100.00 admin fee on top of the NSF fee.

Many companies advertise their NSF policy openly (ie: stephenson's rental etc).